WARWICKSHIRE’S financial position has enjoyed a “very welcome turnaround” in the last year, members were told at the club’s annual general meeting last night.

The Bears recorded a net profit just shy of half-a-million pounds, a welcome boost with another financial fillip of an Ashes Test at Edgbaston to follow later this year.

With recession biting hard into so many industries, Warwickshire have bucked the trend – to the satisfaction of club chairman Neil Houghton.

“It is a very welcome turnaround,” he said. “And that is testament to the loyalty of our members and business partners and the dedication of our staff.”

Many thoughts at Edgbaston are now concentrated on the ‘master plan’ to redevelop the Pavilion End of the ground. The £30million scheme is approaching a critical stage, likely to go before city planners on March 26.

Approval is far from a formality with more than 40 objections having been lodged. And even if planners vote in favour, the council still has to then sanction a substantial loan to the Bears to enable the redevelopment to proceed.

At last night’s meeting chief executive Colin Povey dared to envisage the best-case scenario: That the end of the long and tangled preparatory process is a matter of weeks away.

“I am hopeful that, by the start of the season, we will have both planning permission and a financial commitment from the council in place,” Povey said.

“The council has stated its intention to hold fire on the loan decision until the planning process is complete so as not to imply pressure on that process. That is entirely reasonable, if a little frustrating, because of course we want to advance things as quickly as possible.

“Our intention is still very much to start demolition before the end of the season and have the whole scheme complete by the summer of 2011 when we hope to stage the Test against India.”